Medicare Supplements

Medicare Supplement Plans (Medigap)

Every individual will have different needs and medical services relating to his or her health. Those needs may require more services than your normal checkups or prescription coverage. However, Medicare does not pay for everything pertaining to your medical bills. Therefore, any physician services, in and out patient surgical services and supplies, diagnostic test, or other medical related costs will make you responsible for a portion of these expenses. However, a Medicare Supplement plan helps minimize these expenses and lower any out-of-pocket you might have.

Original Medicare will leave uncovered expenses that could ultimately be devastating to your finances if a major medical issue happens to you. So, having a supplemental health insurance plan would be very beneficial to you and your finances.

What is a Medicare Supplement Plan?

A Medicare Supplement insurance plan, also known as Medigap, helps to cover the leftover ‘gaps’ that are unpaid when Original Medicare pays its portion of you health care costs. There are 11 standardized Medigap policies (Plan A, B, C, D, F, F+, G, K, L, M, N), that individuals can choose from that offer basic as well as detailed additional benefits per plan. All plans are identical with each insurance company. Medigap plans must follow guidelines for Federal and state laws which are in place to protect the insured.

Medigap Plans Effective on or after June 1, 2010
How to read the chart: If a checkmark appears in a column of this chart, the Medigap policy covers 100% of the described benefit. If a column lists a percentage, the policy covers that percentage of the described benefit. If a column is blank, the policy doesn’t cover that benefit. Note: The Medigap policy covers coinsurance only after you have paid the deductible (unless the Medigap policy also covers the deductible). You may buy the following Medigap Plans which become effective June1, 2010:
	Medigap Plans Effective June 1, 2010
Medigap Benefits	A	B	C	D	F*	G	K	L	M	N
Medicare Part A Coinsurance hospital costs up to an additional 365 days after Medicare benefits are used up
Medicare Part B Coinsurance or Co-payment							50%	75%		***
Blood (First 3 Pints)							50%	75%
Part A Hospice Care Co-insurance or Co-payment							50%	75%
Skilled Nursing Facility Care Co-Insurance							50%	75%
Medicare Part A Deductible							50%	75%	50%
Medicare Part B Deductible
Medicare Part B Excess Charge
Foreign Travel Emergency (Up to Plan Limits)
Medicare Preventive Care Part B Co-Insurance
							Out-of-Pocket Limit**
							$4,620	$2,310

*Plan F also offers a high-deductible plan. This means you must pay for Medicare-covered costs up to the deductible amount $2,000 in 2010 before your Medigap plan pays anything.

**After you meet your out-of-pocket yearly limit and your yearly Part B deductible ($162 in 2011), the Medigap plan pays 100% of covered services for the rest of the calendar year. Out-of-pocket limit is the maximum amount you would pay for co-insurance and co-payments.

***Plan N pays 100% of the Part B coinsurance except up to $20 co-payment for office visits and up to $50 for emergency department visits.

Medicare Supplement Insurance (Medigap) Qualifications

Medicare Supplement Insurance plans are available for people 65 or older, under 65 with certain disabilities, and any age with End-Stage Renal Disease (ESRD). You must also be enrolled in Medicare Part A and Part B to get a Medicare Supplement. The best time to purchase a Medigap plan is during your open enrollment, which begins 6 months before the first day of the month you are age 65 or begin Medicare Part B and last for 6 months after. The Medigap Plan would begin when your Medicare Part A & B starts. Being on Medicare doesn’t mean that there can be no other options for you. Affordable health insurance is available if you know how and where to search.